by Charles Hoskinson | June 28, 2017
The Cardano paper explains why the team feels the need for yet another entrant into the crowded space. It explains Cardano's choice to go with a proof of stake and describes the distinction between it's computational and settlement layers. Finally, the paper also speaks to issues of interoperability, regulation, and sustainability.
A cryptocurrency is more than the sum of its protocols, source code and utility. It is ultimately a social system that inspires, enables and connects people. Frustrated by the many half measures, failures and broken promises of past protocols, we set out to build something better. This process is not simple nor have we ever believed it can finish. Social protocols continue indefinitely changing as people and society change. To be useful, we want to trap the power of evolution and port it into Cardano.